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Mar 26, 2013
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you have to go down to third, deficit and debt, and that's only 33%. so the deficit/debt thing, i think you're losing ground on that. and here's another one. i want you to hear this. only 6% of those polled want to cut medicare. and yet you've got a house budget that wants to slam medicare. i know entitlement reforms are necessary. maybe small ones. but people do not want to see that program depart. you all are running against the tide, even of the numbers of major republican pollster like john mclaughlin. >> my point has been in order to fix this presidential fix we have in our party we have to do a couple things. we have to do more than just, as you say, bean count and put on the green eye shade. i agree with you. we also have to get to the issues that get to people's hearts. certainly health care. school choice. charter schools. i mean, one of the reasons why i think the bushes have done so well in hispanic communities, and minority communities is that -- they are rightfully -- >> they go there! >> they're obsessed -- they go there. >> jack kemp wen
you have to go down to third, deficit and debt, and that's only 33%. so the deficit/debt thing, i think you're losing ground on that. and here's another one. i want you to hear this. only 6% of those polled want to cut medicare. and yet you've got a house budget that wants to slam medicare. i know entitlement reforms are necessary. maybe small ones. but people do not want to see that program depart. you all are running against the tide, even of the numbers of major republican pollster like john...
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Mar 19, 2013
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we have to remember, the budget deficit was 10% of gdp in 2009. now it's 5. and going down to 2 or 3 and then it's going to start going up again. >> $800 billion now. >> that's all. and those pressures, by the way, coming from health care costs, not from a lot of the stuff they're talking about cutting the discretionary part of the budget. but on the corporate tax thing, i hate to introduce root canal again be, but if you want to get down to 25%, the white house said 28% and it's a goal that probably all of us would embrace, you're going to have to close a bunch of loopholes. if you want it to be at least revenue-neutral -- >> which the president has said he would have -- not the corporate, the personal. >> anyone who advocates for that and i've got a whole list, has to be willing to put their specific loopholes on the table. you can't do the paul ryan thing with the big asterisk and say -- >> what do you think? >> that's exactly the way you have to approach this. we do need -- first off, this issue is about 5, 10, 15 years from now, stablelizing the debt at
we have to remember, the budget deficit was 10% of gdp in 2009. now it's 5. and going down to 2 or 3 and then it's going to start going up again. >> $800 billion now. >> that's all. and those pressures, by the way, coming from health care costs, not from a lot of the stuff they're talking about cutting the discretionary part of the budget. but on the corporate tax thing, i hate to introduce root canal again be, but if you want to get down to 25%, the white house said 28% and it's a...
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Mar 22, 2013
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you know, the best way we can deal with our debt and deficit long term is to grow the economy and that's what this budget does. it recognizes we need to invest long term. we need to cut spending and it does that. it does not do that. >> we need to invest long term. >> senator, with all due respect and i month your point of view may i just add after $650 billion tax hike already this year you raising taxes at least another trillion, i don't know how that is pro growth. regarding the sequester, i can understand making some changes to the sequester with regard to the management of the subaccounts particular in the defense department but you're not doing that. you're spending most of that money. associated press reports often years there may be a couple hundred billion dollars of spending cuts but the sequester was 1.2 trillion. you are in effect raising spending and raises taxes are you not? >> the budget closes a lot of corporate loopholes where we've been paying for people who go overseas and create jobs rather than paying to create jobs here at home. i don't think that's what we ought to
you know, the best way we can deal with our debt and deficit long term is to grow the economy and that's what this budget does. it recognizes we need to invest long term. we need to cut spending and it does that. it does not do that. >> we need to invest long term. >> senator, with all due respect and i month your point of view may i just add after $650 billion tax hike already this year you raising taxes at least another trillion, i don't know how that is pro growth. regarding the...
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Mar 21, 2013
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to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recessi
to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it...
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Mar 18, 2013
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states across the united states are relying on revenue from casino gambling to help solve their budget deficit. the main attraction at these gambling halls is the new slot machines. we americans spend more money on slots than on movies, baseball, and theme parks combined. but with slots, there is the potential for a dangerous side effect: gambling addiction. and more people are addicted to slots than any form of gambling. [slot machines beeping] >> this is what slot machines used to look like, where you pull the handle and hope for three of a kind. [slot machine beeping] this is what they look like today. the modern slots are like high-tech video games that play music and scenes from tv shows. you can play hundreds of lines at once, and instead of pulling a handle, you bet by pushing buttons, which means each bet can be completed in as little as 3 1/2 seconds. it looks like great fun, but it can be dangerously addictive. >> whether or not it's their intention, the gambling industry is designing machines that can addict people. >> mit anthropology professor natasha schull has studied gambling a
states across the united states are relying on revenue from casino gambling to help solve their budget deficit. the main attraction at these gambling halls is the new slot machines. we americans spend more money on slots than on movies, baseball, and theme parks combined. but with slots, there is the potential for a dangerous side effect: gambling addiction. and more people are addicted to slots than any form of gambling. [slot machines beeping] >> this is what slot machines used to look...
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Mar 18, 2013
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our chief washington correspondent john harwood has the latest on the possible deficit reduction deal. hi, john. >> it's an interesting blend of confrontation and cooperation. call it a controlled battle because you've got the u.s. senate today taking up a bill to avert a government shutdown by sustaining government funding beyond march 27th. the house has already passed the bill. there are differences between the two chambers and the two parties on what they want to do to the effects of the the bill. it smoothed out some things. made it easier for the pentagon to adjust. the senate has other departments which it's trying to help. still some disagreements there. but they expect to be worked out by the end of the week. at the same time, there's a huge gap between the two long-term budget plans that the two parties are pushing. and john boehner over the weekend said, we're done with tax increases. he was repeating that position. the house white house responded, the senior adviser, saying no deal is possible as long as john boehner is in that place. so that's where we are, sue. you've go
our chief washington correspondent john harwood has the latest on the possible deficit reduction deal. hi, john. >> it's an interesting blend of confrontation and cooperation. call it a controlled battle because you've got the u.s. senate today taking up a bill to avert a government shutdown by sustaining government funding beyond march 27th. the house has already passed the bill. there are differences between the two chambers and the two parties on what they want to do to the effects of...
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Mar 21, 2013
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the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a number of job cuts announced recently. so is the labor market running out of steam? listen to what "mad money's" jim cramer said earlier today. >> tens of thousands of people are going to be laid off within the next month. >> whatever little. >> and that's going to show up in the numbers, in that 330,000 employment, that may be the last good one. bernanke is not smoking dope, pot, whatever they call it now. >> well, is he right? joining us now is "the wall street journal's" chief economics correspondent john hillsenrath. good to see you. >> good to be here. i agree with one thing that jim said ear
the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a...
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Mar 26, 2013
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it's not a big budget deficit. it's that the italian economy has been dead flat for tenl years, me need toty away all this rigidity in order to grow. ets, you know, europe really has to focus more on growth, which is official speak for too much austerity, folks. this is the is not working. to my mind, what you see is they haven't made much progress on this reform and opening up. they need a reagan. they need a thatcher. they need somebody who is going to go for the supply side, let's grow, let's deregulate, and they haven't made much progress on that. and so all this focus on the debt takes you away from the fact that italy hasn't grown for ten years. if it doesn't grow for 20 years, this debt problem is really very difficult to cover. growth is the issues for italy. i do not think the european union has good policies that give them good growth because they have all these rigidities built into the system. unlike america, wherefore both or worth, if your boss doesn't like it, he follows you and moves on. >> pocket l
it's not a big budget deficit. it's that the italian economy has been dead flat for tenl years, me need toty away all this rigidity in order to grow. ets, you know, europe really has to focus more on growth, which is official speak for too much austerity, folks. this is the is not working. to my mind, what you see is they haven't made much progress on this reform and opening up. they need a reagan. they need a thatcher. they need somebody who is going to go for the supply side, let's grow,...
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. >> there's no question that cheap money and deficits creates margins and profits are in the peaking process. we don't expect a big drop from these levels of rapid decent. >> can i handle that one, too? >> yeah. yeah. >> in 1966 margins peaked in the middle of the cycle after tax margins peaked in the middle of the cycle. it's the only time the yield curb inverted. we have had an inverted yield curb without a recession. the reason i'm bringing that up, the only times the margin collapsed, and they're right, but simply cannot cut costs fast enough. we keep thinking we're going to get a margin correction or aversion. companies don't raise cost more than the rev new. they simply can't cut them fast enough when the revenues decline. >> that's a good point. tony, barry, we'll come back to you guys throughout the year. prevoktive calls from you both. thank you so much. >> from apple to the chase website, no one is immune to cyber attacks. when we come back, the former secretary of homeland security and white house security adviser are here to explain why we're our own worst enemy when it c
. >> there's no question that cheap money and deficits creates margins and profits are in the peaking process. we don't expect a big drop from these levels of rapid decent. >> can i handle that one, too? >> yeah. yeah. >> in 1966 margins peaked in the middle of the cycle after tax margins peaked in the middle of the cycle. it's the only time the yield curb inverted. we have had an inverted yield curb without a recession. the reason i'm bringing that up, the only times...
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Mar 21, 2013
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because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. but the europeans have made a categoric statements. cypress has to come up with 5.8 billion euros. it can't be through new loans, it can't b
because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood....
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Mar 18, 2013
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cyprus needed a total bail out of 17 billion euros and they needed to to fund their banks and deficit. they said we will only give you ten and you have to come up with the other seven. it led to runs on atms in cyprus and protests as the president arrived at parliament. here's what they decided to do. they're going to tax bank depos sxits the ox original plan on saturday, 10% if you have an account larger than 100,000 euros and here's what led to the protests, 6.75% if you're under 100,000 euros and that's fdic deposit insurance. market watchers were aghast that insured depositors would be hit, but the insurance was essentially a falsehood. what if citizens in italy or spain begin to think that they being lose their money even if it is supposedly insured? could that lead to bank runs? it is so controversial the cyprus parliament couldn't get it passed yesterday. they say they would do it today. it didn't happen and now they're trying for tomorrow. they are re-working the plan so the smaller guy is not hit so hard, but still, it appears they're going after insured deposits. why did the
cyprus needed a total bail out of 17 billion euros and they needed to to fund their banks and deficit. they said we will only give you ten and you have to come up with the other seven. it led to runs on atms in cyprus and protests as the president arrived at parliament. here's what they decided to do. they're going to tax bank depos sxits the ox original plan on saturday, 10% if you have an account larger than 100,000 euros and here's what led to the protests, 6.75% if you're under 100,000...
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Mar 23, 2013
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but i have to tell you, wolf, we can't keep running up deficits like this. it will damage the economy deeply. people say we don't have a crisis on the horizon, of course we do. we have a debt on a tear. if the debt takes off like it is projected to do so, it is not only hurting our economy today, it is destroying it for the next generation. we can't sit around and be complicit with that. the problem is we have to do something about that. >> one final question. senator rand paul was here yesterday in "the situation room," 24 hours ago. he said flatly he is going to iowa the next few weeks, seriously thinking of running for the republican presidential nomination in 2016. thinks it is a good idea for him. what about you? >> i am going to make my mind up later. the reason i need to do this job, i am chairman of the budget committee, we have a crisis on the horizon, we need agreements done, i don't think it is good for me or wisconsin district or my colleagues to cloud my judgment at this time with other things. i need to do what i think is right in this moment,
but i have to tell you, wolf, we can't keep running up deficits like this. it will damage the economy deeply. people say we don't have a crisis on the horizon, of course we do. we have a debt on a tear. if the debt takes off like it is projected to do so, it is not only hurting our economy today, it is destroying it for the next generation. we can't sit around and be complicit with that. the problem is we have to do something about that. >> one final question. senator rand paul was here...
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Mar 24, 2013
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paul krugman has the idea that deficits don't matter, not now. we spent some time understanding the thinking behind the theory. krugman is of course the nobel prize winning op-ed columnist for the "new york times." he is also princeton professor. thank you for doing this. so explain, first, specifically why you feel that right now really there is, as far as i can tell, almost no limit to what you would be willing to do in terms of stimulating the economy. >> right now is a time when not spending is extremely disruptive. if the government pulls back, it's destroying jobs and there's no way to offset that. ordinarily if a government spends less the federal reserve can cut interest rates, like we did at the end of the cold war, but we can't do that now because the interest rate fed controls are at zero. so we have no offset and conversely up to, if we increase spending right now it will create jobs and expand the economy. this is a really good time to be spending. won't always be like this. this is not the normal situation. normally we have an econo
paul krugman has the idea that deficits don't matter, not now. we spent some time understanding the thinking behind the theory. krugman is of course the nobel prize winning op-ed columnist for the "new york times." he is also princeton professor. thank you for doing this. so explain, first, specifically why you feel that right now really there is, as far as i can tell, almost no limit to what you would be willing to do in terms of stimulating the economy. >> right now is a time...
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Mar 18, 2013
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yeah, the deficit is an issue. it's not the number one issue. >> why, boehner do that? we don't have an immediate debt crisis. you would see that in the market, right? so baner er isboehner is sayin. it is against what he's been saying which is the debt is a problem. why did he do that? >> he said we need to address it over the long term. that means taking steps now. but here's the thing, he is actually opening the possibility that republicans move to more favorable ground because right now the problem is that republicans are emphasizing have been emphasizing root canal economics, only fiscal austerity rather than a more positive agenda. by conceding the point that we don't have an immediate debt crisis, then can you raise some questions. so for example, senator patty murray said let's get rid of the loopholes and deductions. now republicans say, sure, let's do that. instead of sending money to washington, let's make the child tax credit bigger. let's offer middle class tax relief. let's do things that actually put pressure on the spending that president obama wants but
yeah, the deficit is an issue. it's not the number one issue. >> why, boehner do that? we don't have an immediate debt crisis. you would see that in the market, right? so baner er isboehner is sayin. it is against what he's been saying which is the debt is a problem. why did he do that? >> he said we need to address it over the long term. that means taking steps now. but here's the thing, he is actually opening the possibility that republicans move to more favorable ground because...
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Mar 24, 2013
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and what happens to the deficit and to paul krugman's theories then? i'll ask him. ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [
and what happens to the deficit and to paul krugman's theories then? i'll ask him. ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the...
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it will bring more revenue in than any year in the history and we'll have a trillion dollar deficit. spending is a problem. >> the senate passed a six-month budget measure yesterday that keeps most cuts in place. congress is now involved in the controversy over the washington redskins team name. a bipartisan bill which is introduced yesterday by ten lawmakers boo cancel the nfl team's trademark of the name redskins. this at the same time the federal court considers a petition by a group of knave americans to cancel the trademark. the redskins brand is not meant to offend, but apparently it does. >> i can't remember a time in my life where people haven't been discussing and debating team names like the redskins. but this is the first time i recall someone taking a business angle, talking about the trademark issue. >> it's offensive to a lot of people. think at some point they will have to change it. >> it's different than the fighting illini. this was a derogatory word in certain point in american history. it's a little bit different than -- iowa, illinois, states named after indian t
it will bring more revenue in than any year in the history and we'll have a trillion dollar deficit. spending is a problem. >> the senate passed a six-month budget measure yesterday that keeps most cuts in place. congress is now involved in the controversy over the washington redskins team name. a bipartisan bill which is introduced yesterday by ten lawmakers boo cancel the nfl team's trademark of the name redskins. this at the same time the federal court considers a petition by a group...
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on top of that, how do you do it if you already have a billion dollar budget deficit? >> right. it's a big issue. a side story that i've been covering is the death of this 6-month-old girl on chicago's south side. yeah, security, safety, is a big issue and parents are concerned if they have to put their child on a city bus. >> i don't know what neighborhood my child is going to. i don't know about that neighborhood. i know about my neighborhood. >> 5:30 eastern time we should see a press conference there in chicago. we are anticipating, expecting, to see that list. >> this is a done deal, 50 schools, right? >> this is the recommendation by the school ceo. they will vote on it in the next few weeks, but this is the first recommendation and a lot of people are hot and angry about it. >> 70 schools affected when you look at staff from other schools. 70 schools total possible affected by this. thank you very much. appreciate that. >>> put your ipod down for just one second and focus on the time when you listened to your favorite music on records. remember that? some of you don't. ad
on top of that, how do you do it if you already have a billion dollar budget deficit? >> right. it's a big issue. a side story that i've been covering is the death of this 6-month-old girl on chicago's south side. yeah, security, safety, is a big issue and parents are concerned if they have to put their child on a city bus. >> i don't know what neighborhood my child is going to. i don't know about that neighborhood. i know about my neighborhood. >> 5:30 eastern time we should...
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Mar 20, 2013
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more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent. you still have to sit down and do something. >> right. i think we're doing our budget this year. actually we're doing it this week here in the house. our budget will balance in ten years. we're going to pass our budget. hopefully the senate will pass their budget. except their budget never comes to balance. the president's budget never comes to balance. you can't continue to spend money as far as the eye can see that you don't have. and that's what they're continuing to propose, along with higher taxes on the american people. >> but the political reality is, no budget deal can probably happen, not one that will
more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent....
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washington right now, can president obama and republicans reach a long-term agreement on reducing the deficit? >> the answer, different depending on which republican you ask. house speaker john boehner doesn't sound very hopeful. he's standing firm against the idea of increasing tax rates, increasing tax revenue. >> the president believes that we have to have more taxes from the american people. we're not going to get very far. if the president doesn't believe that the goal ought to be to balance the budget over the next ten years, i'm not sure we're going to get very far. and this is the whole issue. we have a spending problem here in washington, and it's time to solve the problem. >> we're hearing different things coming from various republicans, including senator bob corker. he's a republican of tennessee. he says he's optimistic about the possibility of what's called a grand bargain, and he's open to the idea of raising tax revenues to cut the deal under certain circumstances. senator corker's joining us now from capitol hill. senator, thanks very much for coming in. >> good to be with yo
washington right now, can president obama and republicans reach a long-term agreement on reducing the deficit? >> the answer, different depending on which republican you ask. house speaker john boehner doesn't sound very hopeful. he's standing firm against the idea of increasing tax rates, increasing tax revenue. >> the president believes that we have to have more taxes from the american people. we're not going to get very far. if the president doesn't believe that the goal ought to...
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crucible is $17 trillion in debt, 14 million people unemployed, 42 out of 50 states are facing a budget deficit. and to be honest there is very little leadership coming out of washington. so i think what i tried to do is raise these issues with civility, whether you're republican or democrat, we're all americans. and i think we deserve more. we deserve better. and washington really needs to help us create the kind of leadership and decision making by putting their feet in the shoes of every day americans. that's not what's going on. >> you recently were speaking at the national retail federation and you said that the lack of leadership in washington, i just want to quote you, because i thought it was beautifully said, is sapping the life blood, the soul and the confidence of our country as the world witnessed a lack of leadership in the united states. is that message ever going to get through? are we reaching a point where you say i grew up poor, i became wealthy, i was able to start a company and it's not going to be able to happen to people in the next generation? >> i think you're bringing u
crucible is $17 trillion in debt, 14 million people unemployed, 42 out of 50 states are facing a budget deficit. and to be honest there is very little leadership coming out of washington. so i think what i tried to do is raise these issues with civility, whether you're republican or democrat, we're all americans. and i think we deserve more. we deserve better. and washington really needs to help us create the kind of leadership and decision making by putting their feet in the shoes of every day...
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. >>> facing a $1 billion deficit, chicago public school system is making some really big changes. ceo barbara byrd bennett says the district's underutilized skols will be closed. they have not said how many schools are expected to close but opponents say they unfairly target minorities. >>> 24 and counting for the miami heat. but it was not easy. it hasn't been easy the last few games. lebron james and company came back from 27 points down in the third. >> can you believe that? >> beat his old team, the cleveland cavaliers 98-95. a triple-double. 12 boards, 10 assists. the heat are now within nine games of the nba record for consecutive wins held by the '71-'72 los angeles lakers. >> do you think they'll do it? >> no. they almost blew it against the celtics, almost blew it against the cavs. they are the best team i've seen in years. i don't think they should ever lose necessarily but that's a lot of games to win in a row. >> i can't believe they were down that much and came back. >> i can't believe you can do that every night. >> i think they're doing it on purpose. >>> recovered
. >>> facing a $1 billion deficit, chicago public school system is making some really big changes. ceo barbara byrd bennett says the district's underutilized skols will be closed. they have not said how many schools are expected to close but opponents say they unfairly target minorities. >>> 24 and counting for the miami heat. but it was not easy. it hasn't been easy the last few games. lebron james and company came back from 27 points down in the third. >> can you...
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Mar 20, 2013
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we can't keep running up deficits like this. it will damage our economy deeply and people are saying that we don't have a crisis on the horizon. of course we do. we've got a debt that is on a tear right now. if the debt takes off like it's projected to do, it's not only hurting our economy today but destroying it for the next generation. we just can't sit around and be complicit with that. that means we have to do something about it. >> let me get your thoughts on a couple sensitive issues coming before congress. immigration reform. do you support a pathway to citizenship for the 11 or 12 million illegal immigrants in the united states? >> well, i think we can get the comprehensive immigration reform. i support reform. i supported the bush reforms in 2005 and 2006. i think we can find a way of making sure that people here with an undocumented status have an ability to adjust that status. we're not going to be able to deport 12 million people. and there is a way to do this without rewarding them for breaking the line or breaking
we can't keep running up deficits like this. it will damage our economy deeply and people are saying that we don't have a crisis on the horizon. of course we do. we've got a debt that is on a tear right now. if the debt takes off like it's projected to do, it's not only hurting our economy today but destroying it for the next generation. we just can't sit around and be complicit with that. that means we have to do something about it. >> let me get your thoughts on a couple sensitive...
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Mar 21, 2013
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there were boos when the president said they have a partnership in the leadership, which is the deficit of trust between the two sides. but pulling back, they picture, wolf, many israeli critics of the president have said too often he lectures israelis and doesn't seem to understand israel. tonight those critics, man of them, are saying he now feels he has conveyed that he does understand israel in a deep personal way, wolf. >> jessica yellin traveling with the president in jerusalem getting ready to head over to jordan with him tomorrow. jessica, thanks. >>> we're getting new information about claims that syria has used chemical weapons. our pentagon correspondent, barbara starr, has the very early results of the u.s. investigation. what is this, barbara? what are we hearing? >> brianna, as you said, the u.s. intelligence community has been working on this problem around the clock. did the syrian regime use chemical weapons. we do now have some initial results of that investigation. with video of syrians suffering from convulsions and breathing problems, and accusations of chemical wea
there were boos when the president said they have a partnership in the leadership, which is the deficit of trust between the two sides. but pulling back, they picture, wolf, many israeli critics of the president have said too often he lectures israelis and doesn't seem to understand israel. tonight those critics, man of them, are saying he now feels he has conveyed that he does understand israel in a deep personal way, wolf. >> jessica yellin traveling with the president in jerusalem...
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Mar 19, 2013
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we say, let's take some of that revenue to help reduce the deficit, combined with other targeted cuts. >> be more specific for me. when you talk about tax loopholes and the very wealthy. which specific loopholes and what is very wealthy? >> sure, sure, these are, when you're in the highest tax bracket, you're in the 39% tax bracket when you get a deduction, whatever it may be for, you get 39 cents worth of deduction. whereas somebody who is in the 28% tax bracket only gets 28 cents deduction for that particular deduction. so what we're saying and this is similar to a proposal the president's put forward, is that for folks who are in that very high bracket, the 39% bracket, the value of your deductions will be limited to about 28% which is what the value of deductions is for a middle income taxpayer. >> so ultimately, the budget that you have there and i just read the little chunk of it, you have more revenue increases than cuts, right? >> within, within this particular budget, but if you look, soledad, at the two-year period of reduction we've been engaged in, which is -- includes the
we say, let's take some of that revenue to help reduce the deficit, combined with other targeted cuts. >> be more specific for me. when you talk about tax loopholes and the very wealthy. which specific loopholes and what is very wealthy? >> sure, sure, these are, when you're in the highest tax bracket, you're in the 39% tax bracket when you get a deduction, whatever it may be for, you get 39 cents worth of deduction. whereas somebody who is in the 28% tax bracket only gets 28 cents...
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Mar 25, 2013
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you think about the deficit, the government doesn't have this kind of cash and people are concerned this isn't necessarily the best use of taxpayer money. in the video, you saw a second ago, people are dressed up as crew members on a starship enterprise, and the government employee version of characters claiming they will boldly go where no government employees have ever gone before. it is funny. but i watched the videos with my producer and we were trying to to figure out the training value and people have similar questions. >> i have been since corrected and am about to burst into a fit of giggles and i inappropriately said it is "gilligan's island," not whatever i said. what is the irs saying about this in. >> they came up with this statement saying it is -- i'm quoting now, no mistaking this video does not reflect the best stewardship of resources, and that video of this type will not be made today. so the irs does say training gener videos in general are cheaper. that would involve some travel. >> okay. zain asher, thank you. >>> honeymoons, they are the icing on the cake after a we
you think about the deficit, the government doesn't have this kind of cash and people are concerned this isn't necessarily the best use of taxpayer money. in the video, you saw a second ago, people are dressed up as crew members on a starship enterprise, and the government employee version of characters claiming they will boldly go where no government employees have ever gone before. it is funny. but i watched the videos with my producer and we were trying to to figure out the training value...
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Mar 22, 2013
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. >> neither rain, nor sleet senator snow nor deficit. no word this morning, saturday mail delivery is back on. >>> and 911 shocker. >> can you tell can you tell me by tapping on the phone once that do not open the door. >> 911, where is your image? >> the frightening moments and amazing end. live on the cnn newsroom. >>> good morning, thank you for joining us. i'm carol costello. three people dead at the marine base in quantico. the base is in lockdown, law enforcement surrounded the building. >> the shooter, an active duty marine, was pronounced dead of an apparent self-inflicted gunshot wound by law enforcement at the scene. two other victims, a male and female, both active duty marines, were pronounced dead at the scene. the three marines involved in this incident, all permanent personnel assigned to officer candidate school. all of the candidates in the school are accounted for and safe. >> the base is used mostly for training and it's known as crossroads of the marine corps. we will have a live report at the bottom hour. >>> also fo
. >> neither rain, nor sleet senator snow nor deficit. no word this morning, saturday mail delivery is back on. >>> and 911 shocker. >> can you tell can you tell me by tapping on the phone once that do not open the door. >> 911, where is your image? >> the frightening moments and amazing end. live on the cnn newsroom. >>> good morning, thank you for joining us. i'm carol costello. three people dead at the marine base in quantico. the base is in...
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Mar 21, 2013
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they've got a $1 billion budget deficit. so he has to do something. but the problem is, what does he do? at the beginning of the school year, some people are saying they got off easy with just 50 schools, carol. at the beginning of the school year, they said they were going to close potentially 80 to 120 schools. so it's causing issues. there's no money. also, racial issues in the city, because black alderman are saying, we got you elected and now you are closing most of these schools in black neighborhoods on the south and west sides of chicago. and you didn't listen to us. there was no consensus about which areas and which schools should be closed. so it's causing some big issues, beyond money. >> i would suspect that parents are concerned about their children's safety, too. because these children now have to be transported farther to school. they can't go in their own neighborhoods. >> and besides the issue that we have with guns, we can talk about. but, yes, safety, just outside of that issue, where are the resources going to go? which schools? in
they've got a $1 billion budget deficit. so he has to do something. but the problem is, what does he do? at the beginning of the school year, some people are saying they got off easy with just 50 schools, carol. at the beginning of the school year, they said they were going to close potentially 80 to 120 schools. so it's causing issues. there's no money. also, racial issues in the city, because black alderman are saying, we got you elected and now you are closing most of these schools in black...
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Mar 26, 2013
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the sequester continues but paul ryan and the president met today for lunch to hammer out a possible deficit deal before the looming continued budget resolution vote on march 27. [laughter] shut up. [laughter] shut up you stupid boring news. [ laughter ] look, i'm not going to lie to you, folks. old steve with a c is tired. it's my last show before a two-week break. i'm barely holding it together. cards on the table i could give two (bleep) about the noise right now. -- about the news right now. no, that's not right. that's way too much 1.5 (bleep) tops. you know what i want to talk about? do you want to know what i want to talk about? i want to talk about the bachelor. [cheers and applause] i love that show. i love that show. i mean i just -- every time i watch it it's just daddy time, you know? i pour myself a glass of chardonnay and i am off to a land of romance. [ laughter ] and, look, don't be a hater because in 16 seasons -- [laughter] -- 16 seasons one guy has gotten married to the runner up after he initially proposed to a different girl. so the system works. [ laughter ] mmmmm, oh.
the sequester continues but paul ryan and the president met today for lunch to hammer out a possible deficit deal before the looming continued budget resolution vote on march 27. [laughter] shut up. [laughter] shut up you stupid boring news. [ laughter ] look, i'm not going to lie to you, folks. old steve with a c is tired. it's my last show before a two-week break. i'm barely holding it together. cards on the table i could give two (bleep) about the noise right now. -- about the news right...
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Mar 18, 2013
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obama is out there saying i'm cutting the deficit. we need to get angry because the american people are angry and obama is lying to you. we need to make that very, very clear. that's right! \[applause] >> the white house belongs to the conservative and anger is not what it takes. it takes an understanding of who obama is and what he is up to. what he is up to he does very well. hen wants to take this -- he wants to take this country to a state of socialism, which has not been achieved but it came close during the nixon administration. obama is doing what he thinks is good for america. all of us know that every time that has been tried the opposite has happened. people become poorer. except for the few elite at the top who run the political system. obama is doing a good job of trying to achieve socialism in america. the task of conservatives is to do a better job of explaining why socialism doesn't work and why free markets do work. without using the cord compassion but explaining why compassion is capitalism. >> it has to be done on a
obama is out there saying i'm cutting the deficit. we need to get angry because the american people are angry and obama is lying to you. we need to make that very, very clear. that's right! \[applause] >> the white house belongs to the conservative and anger is not what it takes. it takes an understanding of who obama is and what he is up to. what he is up to he does very well. hen wants to take this -- he wants to take this country to a state of socialism, which has not been achieved but...
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Mar 19, 2013
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 19, 2013
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guest: debt and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he is saying. he is talking about a fiscal cliff, but you want us to accept the people here illegally and give them something they have not earned. i do not understand what republicans are doing. i am a conservative. i do not want amnesty. i do not want them here. host: you might have missed what the congressman said earlier. i will let him respond. guest: what she is saying is she does not want amnesty, and under president bush he had a strong amnesty plan and i said i would not back it. total amnesty like the one presid
guest: debt and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he...
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Mar 21, 2013
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we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the deficit since the immobilization after world war ii, it is an inhibiting growth and the economy. i will vote against the sequester. i think we have done what we need to do with debt. we have the deficit down to a managing level. it will continue to come down. the caucus budget will bring it down further. right now, our crisis is jobs. we still have an eight -- we still have a 8% unemployment rate. if we got the people back to work, and our budget will create amillion jobs, if you have five percent unemployment rate by doing nothi
we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the...
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Mar 20, 2013
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it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who are struggling by substantially lowering taxes for the most fortunate and that's not spend, that's just plain math -- spin, that's just plain math. the vision this budget offers of america is tuth totally at odds -- is totally at odds with who we claim to be. it's a vision of the country where the government is indifferent to the suffering of many while only paying attention to the demands of a few. then there is the other plan that is before us, the democratic plan. with a balanced set of priorities, a better vision for the future, found in the bud
it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who...
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Mar 23, 2013
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just calling about the obamacare and also about the deficit in the united states. my feeling is, many workers across america have lost their insurance and have lower wages because of company downsizing and lower profits. we still pay government workers high wages and give them excellent paid insurance. maybe it is time to decrease their wages and to make their -- make them have a payment they have to pay for their insurance -- [indiscernible] guest: interesting point you bring up about people losing their health insurance. in a bipartisan move in this budget, there is a directive to couch the effect of the number of people losing their health insurance because of obamacare. it was a republican sponsored saying -- thing. they will try to see how much it is occurring. host: the house approved the continuing resolution by 310- 109. 27 republicans and 82 republicans voted no. theye senate version, passed -- 20 republicans voted yes. the democrat of montana voted no. now that these two measures have been passed by the separate chambers, what happens next? guest: the cr
just calling about the obamacare and also about the deficit in the united states. my feeling is, many workers across america have lost their insurance and have lower wages because of company downsizing and lower profits. we still pay government workers high wages and give them excellent paid insurance. maybe it is time to decrease their wages and to make their -- make them have a payment they have to pay for their insurance -- [indiscernible] guest: interesting point you bring up about people...
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Mar 19, 2013
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and will that knowledge deficit of experience mean yeah g? he definitely sees that his goal is that israel be a normal country than the middle class has a better quality of life, it sounds familiar to people here. that is dealing with the palestinian issue. work this out.to i don't know what that means. and it gave an interview and was , when the reporter asked him about iran, he said, i have no clue. this is a guy on the inner sanctum of israel. he says, i have no clue. i just wonder how this constellation is going to configure itself. i would hope that a lot of time, the foreign diplomats, whether it is in europe, our country, that we spend a lot of time with these new people then be sitting around the table. the central factor, i don't want to go to mention the weeds bennet and guys, lapid have the central access to the government. is convinced to break that alliance the day after the election. and get a it government more to his liking where he can keep his base. he found out that these two guys who had only met once before the election,
and will that knowledge deficit of experience mean yeah g? he definitely sees that his goal is that israel be a normal country than the middle class has a better quality of life, it sounds familiar to people here. that is dealing with the palestinian issue. work this out.to i don't know what that means. and it gave an interview and was , when the reporter asked him about iran, he said, i have no clue. this is a guy on the inner sanctum of israel. he says, i have no clue. i just wonder how this...
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Mar 23, 2013
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all savings will be put toward reducing the deficit. another amendment submitted by senator durbin. we will take a closer look at that debate later in our program. more on the senate budget resolution tomorrow on "washington journal" with a reporter from politico. you will be able to call in or send in comments via twitter. use the #voterama. we will continue to bring you updates on the c-span network. you can watch this and at work right now on c-span 2. first day night on " ladies" she was called an during her husband's campaign. she dies of a heart attack before andrew jackson can take office. plays hostess at the white house. we will include your questions and comments by phone, facebook, and twitter. live on monday night on c-span, c-span 3. also on c-span radio and c- span.org. >> next is a discussion about reforming congress would former senators and former representatives. this is from the bipartisan new commission on political reform is traveling around the country. from the reagan library, this is about an hour. >> it's good to be here today as is the case with all of you,
all savings will be put toward reducing the deficit. another amendment submitted by senator durbin. we will take a closer look at that debate later in our program. more on the senate budget resolution tomorrow on "washington journal" with a reporter from politico. you will be able to call in or send in comments via twitter. use the #voterama. we will continue to bring you updates on the c-span network. you can watch this and at work right now on c-span 2. first day night on "...
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Mar 22, 2013
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aboutrse when we think debt and deficits, there are two kinds of deficit. there are those that invest in human capital or infrastructure or investing in education, and those which do not, which endanger our future by adding to the national debt. and this war deficit was of the second type. amthird point that i passionate about, although it is difficult for many people to be passionate about accounting, but i am passionate about the lack of war accounting. one of the purposes of our book and the several book chapters that we have written since then is to argue that bad accounting matters. the u.s. owes nearly a trillion dollars in what business would call deferred compensation to the men and women who fought the war, but this liability does not appear anywhere on the national balance sheet. we did not account for the value of the 6658 lives lost in iraq and afghanistan. that is just the troops, not civilians, not contractors, except for small amount of life insurance money. even though civilian government agencies estimate the value of life at $7.20 million,
aboutrse when we think debt and deficits, there are two kinds of deficit. there are those that invest in human capital or infrastructure or investing in education, and those which do not, which endanger our future by adding to the national debt. and this war deficit was of the second type. amthird point that i passionate about, although it is difficult for many people to be passionate about accounting, but i am passionate about the lack of war accounting. one of the purposes of our book and the...
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Mar 18, 2013
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during the last 40 years there have been only four budgets without deficits. the last three clinton budgets and the one that george bush inherited from bill clinton. in each case taxes as a percentage of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world intersection of budget saving opportunities with potential areas of agreement. health care reform is one. but not just by shifting the burden to seniors and disabled as the republicans propose in their fantasy budget. my home state of oregon is the middle of an exciting demonstration of how to squeeze out the waste we all know is there and realign incentives. instead of the empty ritual of pretending to repeal obamacare, let's work together to accelerate reform for all americans. if the oregon
during the last 40 years there have been only four budgets without deficits. the last three clinton budgets and the one that george bush inherited from bill clinton. in each case taxes as a percentage of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are...
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people didn't even know we had a national debt or deficit. but then a grassroots movement known as the tea party started to emerge. [cheers and applause] and what made the tea party so effective was not only it came from the grassroots, but it had three core values; fiscal responsibility, constitutionally-limited government and free markets. and because of the tea party, we were able to put patriots like michele bachmann, joe walsh into congress so they can make sure that congress will not continue to spend my generation's money. [applause] we need to save the tea party so that we can save america. [applause] ladies and gentlemen, please welcome jenny martin from the tea party patriots. [cheers and applause] ♪ >> thank you. [cheers and applause] picture this: college students in this country who are optimistic about the future and look forward to living the american dream. after college they pursue their careers and begin to make a living. they become parents and put food on the table for their children, save for their retirement and still
people didn't even know we had a national debt or deficit. but then a grassroots movement known as the tea party started to emerge. [cheers and applause] and what made the tea party so effective was not only it came from the grassroots, but it had three core values; fiscal responsibility, constitutionally-limited government and free markets. and because of the tea party, we were able to put patriots like michele bachmann, joe walsh into congress so they can make sure that congress will not...
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Mar 22, 2013
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democratic budget plan, and so as you might expect, it calls for some tax revenue to help reduce the deficit, calls for some more stimulus, more spending that way. and we're in this funny process where today we will wrap up, i think a little beforehand technically, but we'll wrap up 50 hours of debate and then start the unlimited amendment process. basically, any issue you've ever heard your callers call in and complain about we might see votes on today. it could be stuff like drone strikes against u.s. citizens, and it could be taxes and repealing health care and all these different issues that may come up. the point to remember, though, is this is all adding on to a nonbinding budget resolution. so it's interesting, and it may give people clues as to what appetites there are in the senate to pass or repeal certain elements of policy. but it's not binding right away. >> host: headline in your publication, "the hill," says the senate is poised to pass a budget. do you expect this to pass, and what's the significance? where does it go from here? >> guest: we do expect it. i think the democrat
democratic budget plan, and so as you might expect, it calls for some tax revenue to help reduce the deficit, calls for some more stimulus, more spending that way. and we're in this funny process where today we will wrap up, i think a little beforehand technically, but we'll wrap up 50 hours of debate and then start the unlimited amendment process. basically, any issue you've ever heard your callers call in and complain about we might see votes on today. it could be stuff like drone strikes...
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Mar 26, 2013
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there's a deficit, and there's an exclusion of a majority of haiti's citizens from my real say about the future. that really must change. the content of the national accord has to be the issues that have plagued haiti for decades, and the president's proposed five e's are a good example of those, employment, education, environment, energy, and the rule of law. i added an "a" yesterday, which is in our report as well, and that is accountability in transparency in each of the areas, by government for the people. now, there may be views on what should be done in the areas, but that's precisely what a national accord process does, and, bob noted that at the community level, there's already a significant amount of consensus about what has to be done, and those voices need to be heard informing a national consensus in a national govern pact. the elite must recognize their own responsibility to shape the national consensus, and it must include their paying all their taxes in order to provide state with the resources it needs to fund basic health, education, and infrastructure. you know, hai
there's a deficit, and there's an exclusion of a majority of haiti's citizens from my real say about the future. that really must change. the content of the national accord has to be the issues that have plagued haiti for decades, and the president's proposed five e's are a good example of those, employment, education, environment, energy, and the rule of law. i added an "a" yesterday, which is in our report as well, and that is accountability in transparency in each of the areas, by...
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Mar 25, 2013
03/13
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CSPAN2
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the information exists, but the lack of a communication ability to translate that is a significant deficit. for highly uncommon events such as an asteroid fly-by, there's simply no established communication mechanism. i believe our flight operations team learned of da-14 when they received a courtesy call from a colleague at the aerospace corporation. last year the commercial satellite industry participated in dod's war games designed to exercise dod thinking about the deployment of its terrestrial and space assets in response to a conflict situation. last year those games concluded, as they have several times in the past, that dod relies on commercial satellite companies -- their reliance is considerable and that a crisis is the wrong time to try to establish clear lines of communication with your major partners and suppliers. i suspect the same conclusion can be safely applied to the topics that we're discussing today. while governments were first to send satellites to near-earth space, commercial enterprise will be the primary use of the orbital arc in the 21st century. government and s
the information exists, but the lack of a communication ability to translate that is a significant deficit. for highly uncommon events such as an asteroid fly-by, there's simply no established communication mechanism. i believe our flight operations team learned of da-14 when they received a courtesy call from a colleague at the aerospace corporation. last year the commercial satellite industry participated in dod's war games designed to exercise dod thinking about the deployment of its...
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91
Mar 22, 2013
03/13
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CURRENT
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. >> what that number is, that's the estimate of what the possible deficits of these programs might be projected out to the infinite future. it's known as the infinite horizon projection. it doesn't tell us anything about the current fiscal status of these programs. it's just designed to create a big scary number as it does. 60 trillion-dollar, sometimes you hear the number 200 trillion-dollar. that's nonsense. real actuaries hate this sort of number because they say it's only there to basically mislead the public, and to scare people into making changes in these programs that they don't need, and that aren't necessary. >> john: indeed. i know we're short on time but i want to get to your fourth lie which i thought was one we hear all the time that you're paying way too much for your benefits or maybe you're paying too little? >> yes this is an in the misrepresentation. they are social programs. some putting more in to them will get more out of them. some won't get much out of them, what they paid in taxes. what makes the programs valuable at the middle of your career or midpoint of yo
. >> what that number is, that's the estimate of what the possible deficits of these programs might be projected out to the infinite future. it's known as the infinite horizon projection. it doesn't tell us anything about the current fiscal status of these programs. it's just designed to create a big scary number as it does. 60 trillion-dollar, sometimes you hear the number 200 trillion-dollar. that's nonsense. real actuaries hate this sort of number because they say it's only there to...
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125
Mar 26, 2013
03/13
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CURRENT
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at least we have a budget now and at least democrats now can show that deficit reduction can be done responsible. responsibly. >> the lack of a bunt has been an effective talking point for republicans. why do you think they haven't reached an agreement? >> because they're democrats. they have a hard time reaching an agreement about anything. that's why they're democrats. the progressive caucus shows that it is possible to reduce the budget deficit by taking even more away from big corporations reducing corporate welfare to an even larger extent reigning in tax loopholes, and so-called tax expenditures. the democratic budget and senate budget is a very good place to begin. i think the progressive caucus's budget is much better. >> analysts are saying this budget is to the left of obama. many on the left would say we should have expected that. does this give the president the opportunity to bring people together and get some sort of grand bargain by throwing things less liked under the bus. >> there is not going to be a grand bargain. the right wing controls the republican party. the t
at least we have a budget now and at least democrats now can show that deficit reduction can be done responsible. responsibly. >> the lack of a bunt has been an effective talking point for republicans. why do you think they haven't reached an agreement? >> because they're democrats. they have a hard time reaching an agreement about anything. that's why they're democrats. the progressive caucus shows that it is possible to reduce the budget deficit by taking even more away from big...
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129
Mar 18, 2013
03/13
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CURRENT
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so is the deficit really the most thant thing? is the deficit out of control, or is job korea payings more important? >> chris van hollen is right. we have over 40 million american families living in poverty. these numbers carry with them a really human toll. so if we want to be looking at the long-term success of the u.s. economy, then balancing the budget in the short term is a really short-term mistake. >> bill: in other words the best thing we could do to grow the economy is put people back to work. >> yes, and make the sorts of investments that will get people to work today, take a look at pre-k. you are not only employing a lot more full-time teachers but at the same time you are investing in future workers. >> bill: how can it be that you have got -- again, the dough -- these new record highs, corporate profits record high financial institutions are back on their feet and making as much money as they made before and maybe even more so where is all of the money going? >> corporations have been sitting on a lot of funds. so t
so is the deficit really the most thant thing? is the deficit out of control, or is job korea payings more important? >> chris van hollen is right. we have over 40 million american families living in poverty. these numbers carry with them a really human toll. so if we want to be looking at the long-term success of the u.s. economy, then balancing the budget in the short term is a really short-term mistake. >> bill: in other words the best thing we could do to grow the economy is put...
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115
Mar 18, 2013
03/13
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CURRENT
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the biggest problem with our deficit was and is the iraq and afghanistan wars. we did not treat them as a reality, and then don't allow medicare and medicaid to -- if human beings want to gather as a company, they can negotiate anything they want if they want to gather as a government or community, they are not allowed to do that. >> yes. >> hal: so -- but there was a full-on admission, since by the way within 24 hours as most moments of republican honesty are, completely pulled back -- you know they have been running from it ever since. boehner said there is not an immediate debt crisis paul ryan saying there is not a immediate debt crisis. paul ryan said there is no debt crisis this morning on "face the nation." they scramble to concoct a budget plan to shore up the federal deficit but ryan said a crisis is on its way. well, yeah if we didn't do anything. but they have attached revenue with closing a loophole. instead of going some americans are double dipping on benefits they are receiving. >> correct. and they are trying to rekwat that with new taxes. >> hal
the biggest problem with our deficit was and is the iraq and afghanistan wars. we did not treat them as a reality, and then don't allow medicare and medicaid to -- if human beings want to gather as a company, they can negotiate anything they want if they want to gather as a government or community, they are not allowed to do that. >> yes. >> hal: so -- but there was a full-on admission, since by the way within 24 hours as most moments of republican honesty are, completely pulled...